Zanchy

CADJPY BEARISH FLAG

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
SHORT trade analysis on CADJPY.

Graph is looking bearish to lower support zone if it breaks the lower trendline of Bearish Flag. On daily chart can be seen Regular Bearish Divergence as well confirming price drop. Trade idea is also shown on RSI indicator.

If you liked this idea or if you have your own opinion about it, feel free to write in the comments.

Comments

Nice job here.
+1 Reply
Zanchy KlejdiCuni
@KlejdiCuni, I am glad to hear that!
Reply
I’m very new to TA but I’m seeing a bear trap
Reply
Zanchy timetopivot
@timetopivot, Thank you for your opinion but how can you already predict that? I mean price didnt even break trendline yet so i think we cant jump into conclusions that define bear trap.
Reply